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Quality well-defined on D-Street, but finding those quality names is tough: Raamdeo Agrawal

Agrawal said he has gone wrong many time in judging the integrity of management.

ETMarkets.com|
Updated: Oct 18, 2019, 04.14 PM IST
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Raamdeo Agrawal
The consumer opportunity lured him to Manpasand Beverages, he said. This stock has lost 93 per cent so far this year.
NEW DELHI: Market veteran Raamdeo Agrawal says the term 'quality' is very well defined in the stock market. The challenge is how does one build a portfolio with only 'quality' names, says he.

Speaking on the sidelines of an event, Agrawal said he has gone wrong many times in judging the integrity of management. The consumer opportunity lured him to Manpasand Beverages, he said. This stock has lost 93 per cent so far this year.

Agrawal said he burnt fingers in the Financial Technologies stock as well. The co-founder at Motilal Oswal Financial Services said he feels pained for those clients who come into the market when the indices get closer to their peaks.

Bharat Shah of Ask Group said judging corporate management is not something one may want to do in a hurry. The market veteran said the difference between stocks hitting record high and those hitting record lows levels is good corporate management. "Bad businesses and bad managements have to go through the punishment phase," he said.

Tremendous cleansing and purifying efforts are going on in the economy, Shah said. He cited demonetisation, GST, RERA, cleaning up of bank balance sheets as part of this process. "Never before has this cleanup exercise been so concerted and ruthless," Shah said.

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